Roblox is giving creators the keys to some of the biggest franchises, thanks to a new system that lets users legally build with IPs like Squid Game.

The company introduced the Game Fund, a Roblox-flavored version of a creator fund, last summer and it initially launched with $25 million earmarked for up-and-coming games.

Roblox is generally a gaming platform for children, but parents looking to take an interest in what their kids are playing might be surprised to discover some games are actually fun—including ...